Dow Up Nine-In-A-Row On Lowest Volume Day Of Year

Tyler Durden's picture

The Dow managed its ninth green close in a row - its best in 16 years - and obviously closed at all-time new highs. The Trannies were the real winner though as they are now up over 4% in March (considerably outperforming the rest of the major indices), and up 29% since mid-November (a 120% annualized return) with no more than a 2.5% retracement in that period. Four stocks dominated TRAN today JB Hunt, Alaska Air, CH Robinson, and Ryder accounting for half the index's gains. Volume was its lowest of the year (ex President's Day). Average trade size was low. On the week, financials and energy are the underperformers. Treasury yields spiked on retail sales, dropped on the auction and go out very modestly higher on the day but not confirming the equity exuberance again. FX markets also pointed to a less sanguine view of the world as the USD rallied and EURJPY (carry) provided little support. VIX held up for most of the day but collapsed into the close back under 12%. Commodities gave back earlier (weaker USD) gains to close at the lows of the day.

 

The Dow versus Volume - all that matters...

 

as The Transports run away with it again...

 

and the S&P 500 remains in its tight uptrend (also with dismal volume)... it appears the trend is your friend - of course, until the market gaps down 5% and CNBC runs a 'panic' show...

 

Protection was relatively bid all day until the last few minutes when VIX was smashed back under 12% more in line with stocks...

 

Bang Dat VIX Close...

 

FX Markets swung notably longer the USD today starting at around 4amET - Italian auction...

 

 

Charts: Bloomberg and Capital Context

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arm50's picture

and 2 big pomo days to end the month

CH1's picture

Pink unicorns forever!

flacon's picture

Yesterday I bought DIA puts, I sold them this morning at the lows (I managed to sell it at the lowest minute of the day - miracle), made a tiny amount. This market is utterly stupid. 

 

"Get to work Mr. Bernanke!" ~ Shitty Schumer

Buckaroo Banzai's picture

In Technical Analysis, this is called a MAJOR NEGATIVE DIVERGENCE.

flacon's picture

Yeah. And it's beein major fucking negative for three fucking months now. ....  Nobody with half a brain is buying... but it continues to ramp uppp Fucking shit man! This market is on steorids. 

Spirit Of Truth's picture

Pure mass mania insanity on Wall Street:

http://www.spiritoftruth.org/Thesis/Intro

Until the bubble pops and reality hits:

http://www.secondkoreanwar.com

rhinoblitzing's picture

Why only the Pink unicorns? You sound like a racist... If you know what's good for you, you would get the word out to... Impeach Obama Now!

ejmoosa's picture

What's the BFD?  We hit record budget debt every day for years now....

 

Top that, DOW!

McMolotov's picture

"The Farce will be with you, always." —Obi Ben Bernanke

Waterfallsparkles's picture

Spiked it hard in the last 5 minutes like yesterday.

fonzannoon's picture

I give Tyler credit for analyzing this whale shit market.

Clowns on Acid's picture

Bernanke and his pack of smirking jackals are turning all markets into Trannys. They used to be hetero, now they take it wherever they can get it.

Seems healthy right....just let Trannys determine our business decisions and moral direction for us.

Lady Heather...UNCLE's picture

groundhog day bithchez!

rubearish10's picture

Copy and paste day after day!

HD's picture

Only up five Dow points?  I "Poped" for more...

busted by the bailout's picture

So, pray tell, what is the deal with trannies?  What is this outperformance telling us?  Are carloadings and freighthauling and packaege delivery up significnantly recently, or not?  Anyone know for sure?

pragmatic hobo's picture

just check the short interest on tranny stocks ...

busted by the bailout's picture

Thank you. 

I assume that means a short squeeze is a factor.  But why all the shorts?  Usually shorts are well informed.  What do they see that the rest of the market doesn't, I wonder?

Tijuana Donkey Show's picture

Bigger players squeeze the weak hand. Refer to Ackman vs. the Icannator. Ackman is right about Fleece-o-life, but if you squeeze hard enough, you can still win. Look at what happened to VW in the squeeze, and realize they do the reverse with gold and silver.

tornado_watch's picture

According CASS, YoY shipements on the freight side up 0.5% / expenditures lower by 1.0%. That follows a Jan that was -2.5% / -1.6%... so shippers clearly paying less and shipping less, though Feb was better than Jan. Port data only out for Jan, but a mixed bag with exports weaker than imports, but some ports doing well and others not so much. Today's retail #s, given the building materials / auto / and online data points would point to some higher car loadings, but they are seeing drags in intermodal / coal / and with the Mississippi back up, they will be losing some of that traffic back to the barge space.

 

busted by the bailout's picture

Thank you, sir, excellent report!

tornado_watch's picture

According to CASS, YoY shipements on the freight side up 0.5% / expenditures lower by 1.0%. That follows a Jan that was -2.5% / -1.6%... so shippers clearly paying less and shipping less, though Feb was better than Jan. Port data only out for Jan, but a mixed bag with exports weaker than imports, but some ports doing well and others not so much. Today's retail #s, given the building materials / auto / and online data points would point to some higher car loadings, but they are seeing drags in intermodal / coal / and with the Mississippi back up, they will be losing some of that traffic back to the barge space.

 

helping_friendly_book's picture

My wife has a package from, either, FedEX or UPS I carry in each day as I return home. I suppose everyone is shopping online? Giving carriers a boost? Instaed of one huge delivery to a department store there is a thousand deliveries to different houses. 

Short retail store fronts.

Internet shopping is where it is my friends.

Shop until your fingers drop!

 

Dr. Richard Head's picture

I hope when I am as old and shitty as the DOW is that I can keep it up as long as it does.

GolfHatesMe's picture

A Festivus Miracle

Lendo's picture

Time to break out the aluminum pole and let's air some grievances.

astoriajoe's picture

Hey, a win's a win. Amiright or what!! Lets get some drinks boys.

PUD's picture

Lumber futures climb to 8-year high  GAS AT YEARLY HIGH...GOOD THING THERE'S NO INFLATION

Lendo's picture

And that's why the postal service is bust, no inflation.  lol

Anyone saying there is no inflation is just a shill for the establishment and must not be trusted nor listened to.

Mr. Magoo's picture

Looks like a replay of the Zimbabwe market in 2007

SheepDog-One's picture

Highest levels EVA....lowest participation EVA....how long can they really keep this clown show goin'?

Tsar Pointless's picture

They can keep this clown show goin' as long as the POMO be flowin'!

SheepDog-One's picture

That seems to be the induced perception they want, but I'm definitely not buyin it!

Banksters's picture


(Reuters) - The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.

 

The proposed plan represents a major step by U.S. intelligence agencies to spot and track down terrorist networks and crime syndicates by bringing together financial databanks, criminal records and military intelligence. The plan, which legal experts say is permissible under U.S. law, is nonetheless likely to trigger intense criticism from privacy advocates.

 

 

I will repost this SHIT.   Simply because I intend to inflame as many people as possible- with the intent that we can get to critical mass. 

Tsar Pointless's picture

Good luck. You DO realize that "American Idol" is on, don't you?

Savyindallas's picture

and Dancing With the Retards is next  -Mark Cuban and Donald Trump are paring up with a couple of Karedashians in a mudwrestiling polka contest --After that a new version of celebrity "Cheaters" is coming on. The film crew has caught an unnamed Academy award winning celebrity with another Kardashian. They are filiming her former laker NBA celebrity star going over to his Beverly Hills manision to demand that he sleep with his wife in lieu of getting his ass kicked. What a night!

rhinoblitzing's picture

This sounds treasonous, and IMO violates the letter and the spirit of the Constitution which leads me to say.... Impeach Obama Now...

The Heart's picture

Coming in with a back up link to this story:

U.S. to let spy agencies scour Americans' finances

http://www.chicagotribune.com/business/breaking/chi-us-to-let-spy-agenci...

Little wonder no one has any money in America. Is is all off shore! Isn't that a threat to national security? They should be investigating how much of America's tax payer money is in off shore accounts, and not trying to track peoples gold purchases and private accounts for confiscation later.

McMolotov's picture

Q: Would withdrawing everything from the bank one week, making a large deposit the next week, then repeating the whole process again create multiple "false positives" for the system?

flacon's picture

Don't withdraw too much... anything more than $10 is a crime. 

scatterbrains's picture

They probably just want to keep an eye on anyone who's fortune was wiped out taking the other side of Benny's money printing / rigged stock market casino bet.  Of the group that are so inclined to jump out a window, they're probably worried about  the small percentage that would opt instead to take some banksta niggas out with them.  If you haven't already killed yourself your a prime terrorist threat and their on to you bitchezz

Silverhog's picture

I guess priced in Monoply money, the market is still cheap. 

helping_friendly_book's picture

Kevin Henry, he's our man, if he can't get it up, nobody can......goooooooo Kevin!

Gimp's picture

Broken market. Fed's will realize the damage done when volume is down another 50% and the "trust" of markets has completely evaporated.

 

SheepDog-One's picture

They've killed the goose that lays the golden eggs long ago....now all they've done is tied threads to the wings of it's corpse and flapping it around.

bonzo112358's picture

CNBC Special Report: Markets in Termoil

Anchor - "How do you deal with a 0.5% pull back over the last month?"

Guest - "Buy the dip"

Anchor - "That's a brilliant strategy."

Guest - "Thank you.  I worked very hard to come up with that strategy."

Gimp's picture

They need " Abby Normal" as the new host on CNBS!

oak's picture

what is the probability of dow up 10-in-a-row?